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- London capital Group (based on Market Watch)
Pair's Outlook
The USD/JPY currency pair climbed over the 105.00 psychological level on Tuesday, with trade closing within the levels forming the nearest resistance cluster. The pair made a sharp U-turn earlier today and dropped more than 400 pips due to Donald Trump winning the election polls. The market's initial reaction was rather harsh, but the situation is expected to stabilise later through the day. The US Dollar is expected to remain in the red zone today, but there is a solid chance of the American Dollar could still recover and close around the 104.00 level. Meanwhile, technical indicators are giving bullish signals, unable to confirm the outlook.
Traders' Sentiment
Today 65% of traders are long the US Dollar (previously 58%), while the share of buy orders increased from 55 to 73%.
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